I'm in Australia and data engineers here are overpaid, afaict slightly better paid on average than software engineers who are better paid than data people.
So you end up with bizarro stuff where a $150k AUD data engineer who basically can't code or even set-up FTP telling some maths PhD data scientist on $100k what he can or can't do. Managers, unable to gauge technical ability, assume the data engineer must be highly skilled because they're getting paid so much.
The wages and lack of skill I think are symptomatic of there being no real entry-point in data eng. There's a very slow osmosis of people from genuinely skilled areas into data eng, the main drawback being that the entire culture of data eng is defective with so many unskilled hacks.